Meet IPC International Security – The Shopping Mall Security Company with Criminal Employees

According to the criminal complaint, employees at several stores in Rosedale were reporting thefts and break-ins that were occurring after mall hours. The complaint said a “concerned citizen” contacted IPC International, the company that provides mall security at Rosedale. The “concerned citizen” said numerous security guards were involved in burglaries and thefts in the mall, and named Fransen and Woodhams.http://www.startribune.com/local/11552666.html

*IPC International was the Security Provider for the District at Tustin Legacy – Feeling Safer Yet?

Founded in 1978 as General Investigative Corp,. Illinois-based IPC grew to become a major player in mall security staffing in the United States.

The company filed for Chapter 11 protection Aug. 9 after a failed attempt to expand into the United Kingdom and enduring the ripple effect of the 2008 recession.

The operations across the pond were never profitable and had to be funded by IPC’s domestic business before being sold in 2010, draining liquidity in the process, IPC attorneys have said.

Meanwhile, the 2008 recession had hurt the shopping malls and centers for which the company provides service, eventually trickling down to the security provider as opportunities began to dwindle, according to IPC’s court filings.

Making matters worse, the structure of the company’s general liability insurance that included a $1 million deductible had become a major cash drain, but IPC was able to switch its policy to one with a $100,000 deductible in 2011.